|Bid||0.00 x 1100|
|Ask||0.00 x 1800|
|Day's Range||55.67 - 57.25|
|52 Week Range||33.83 - 65.24|
|Beta (3Y Monthly)||2.26|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 23, 2019 - Oct 28, 2019|
|Forward Dividend & Yield||2.00 (3.49%)|
|1y Target Est||58.90|
(GAMESCOM) – Western Digital Corp. (WDC), today introduced a portfolio of external storage solutions for PC and console gamers to enable access to new engaging experiences and capture more winning gameplay, without maxing out their gaming storage. The solutions include a first-to-industry SuperSpeed USB (20Gb/s), USB 3.2 gen 2x2 port in a game drive. Building on top-tier performance of the WD_Black™ SN750 NVMe™ SSD currently on the market, the five new solutions have been thoughtfully designed and purpose-built to address these storage challenges, all based on recognized Western Digital quality and reliability.
U.S. sanctions against Chinese tech giant Huawei were suspended through Monday, Aug. 19. What the Trump administration does next has big implications.
Shares of Micron (NASDAQ:MU) have been volatile, which is no surprise given the current landscape of the stock market right now. Take virtually any news headline and it's easy to see its impact on the stock market.Source: Shutterstock The yield curve, slowing national economies like Germany, the market and currency implosion in Argentina and of course, the trade war, can all impact stocks. But the trade war is the big one for Micron stock because the conflict has a huge impact on semiconductor companies.In the case of MU, sometimes the impact of the conflict is direct and other times it's indirect. But if MU's semi, memory and chip peers -- like Applied Materials (NASDAQ:AMAT), Lam Research (NASDAQ:LRCX), Advanced Micro Devices (NASDAQ:AMD) and Western Digital (NASDAQ:WDC) -- are struggling, there's a good chance that MU stock will struggle too.InvestorPlace - Stock Market News, Stock Advice & Trading TipsMoreover, supply/demand issues have weighed on memory manufacturers like MU as well. That's why we've slowly seen estimates for MU's top and bottom lines dwindle over the last nine months. * 10 Cheap Dividend Stocks to Load Up On There has been optimism that MU and its peers have reached a bottom. If that's the case, it would be quite a powerful positive catalyst for MU stock price. Valuing Micron StockThe one thing investors have always pounded the table on when it comes to MU is its low valuation. But that low valuation is there for a reason; specifically, MU operates in a boom-bust business cycle. When the climate is right, its sales and earnings surge. But when demand dries up or supply builds too much (or both), its earnings and revenue are hammered.No one wants to pay an average price=earnings multiple for that, let alone a premium. Some analysts, however, have said that if Micron stock traded with the same multiple as the S&P 500, then MU stock price would be much higher than it is.But modeling a price target on a stock based on the assumption that investors will dramatically raise its valuation is a fool's game. That doesn't happen often and when it does come to fruition, there's no way of knowing what the final valuation will be. Investors really need to analyze each stock based on its own merit and history.In Micron's case, it has a low valuation, and that probably won't change unless a modification of its underlying business alters its outlook. Analysts, on average, expect MU to generate earnings per share of $6.22 this year, leaving Micron valued at 6.75 times the average EPS estimate.However, the average EPS estimate for 2020 is just $2.50. If the average estimates prove correct, MU's EPS will sink 60% year-over-year in 2020, and MU stock is trading at 16.8 times its 2020 EPS. Moreover, the average estimates call for MU's sales to fall 24% this year and another 15% in 2020.The average estimates for 2020 may be too bearish, but that emphasizes exactly what we're talking about: Micron's business is too volatile to command a higher valuation. Trading MU Stock Click to EnlargeThe wild swings of MU's earnings and revenue are too much for many investors. For those who do want to buy Micron stock, perhaps it's best to accumulate it when the news has worsened considerably and sell the shares when it seems like blue skies for MU.On Tuesday, MU stock fired higher, briefly eclipsing $45. However, the prior resistance zone between $44 and $45 held it in check. It didn't help that Micron's 38.2% retracement level is near $44 as well, while its declining 20-day moving average was $43.11.We have been highlighting this resistance zone for months now, and there's currently a lot of resistance in this area.The rhetoric about MU is improving, but investors are still pretty cautious on the name. Luckily for the owners of Micron stock, the charts have somewhat definitive levels.Bulls either need to see Micron stock price overcome its resistance or get cheaper before buying Micron stock. Bulls who are waiting for the shares to overcome resistance should look for a close north of the $44-$45 zone. If that happens, MU stock can reach its July highs near $49.Aggressive bulls waiting for MU to get cheaper may feel confident near $41. There, MU stock price will be near the 50% retracement level and the 50-day moving average, which is trending higher. Conservative bulls may wait for a correction down into the $39 area. There it will encounter prior support from July, as well as the 200-day moving average. Further, the 61.8% retracement level near $38 should help boost MU stock.In either scenario, buyers need to use extreme caution below $38. If this level give way, MU can decline into the low- to mid-$30s.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Cheap Dividend Stocks to Load Up On * The 10 Biggest Losers from Q2 Earnings * 5 Dependable Dividend Stocks to Buy The post A Low-Risk Way to Trade Micron Stock appeared first on InvestorPlace.
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...
Morgan Stanley has identified a list of tech stocks likely to be the next takeover targets as the sector dominates M&A activity this year.
(Bloomberg) -- The White House is holding off on a decision about licenses for U.S. companies to restart business with Huawei Technologies Co. after Beijing said it was halting purchases of U.S. farming goods, according to people familiar with the matter.Commerce Secretary Wilbur Ross, whose department has vetted the applications to resume sales, said last week he’s received 50 requests and that a decision on them was pending. American businesses require a special license to supply goods to Huawei after the U.S. added the Chinese telecommunications giant to a trade blacklist in May over national-security concerns.The U.S. decision rattled stocks, bonds, currencies and even soybean prices around the world. Huawei suppliers Micron Technology Inc. and Western Digital Corp. declined as much as 2.2% after news of the delay in license approvals, while Qualcomm Inc., Xilinx Inc. and NeoPhotonics Corp. all fell more than 1% in after-hours trading. Huawei’s dollar bond spreads widened by 10 to 15 basis points Friday morning, while the Australian dollar and offshore yuan weakened versus the greenback and the yen gained.Trade TrucePresident Donald Trump said in late June after agreeing to a now-broken trade truce with Chinese President Xi Jinping in Japan that some restrictions on Huawei would be loosened. But that promise was contingent upon China beefing up its purchases from American farmers, which Trump has complained the country has failed to do.In the past week tensions have escalated further as Trump said he would impose a 10% tariff on $300 billion of Chinese imports as of Sept. 1 and his Treasury Department formally labeled China a currency manipulator.Still, Trump said last week there were no plans to reverse the decision he made in Japan to allow more sales by U.S. suppliers of non-sensitive products to Huawei. He said the issue of Huawei is not related to the trade talks.The White House had no immediate comment, and the Commerce Department declined to comment. Huawei also declined to comment. China’s foreign affairs and commerce ministries didn’t immediately respond to faxed requests for comment.Tech PitchTechnology companies have already made their pitch to the White House for a rapid granting of licenses that would allow them to resume some shipments of components to Huawei.The Chinese company is one of the world’s biggest purchasers of semiconductors. Continuing access to that market is crucial to the fortunes of chipmakers such as Intel Corp., Qualcomm Inc. and Broadcom Inc. who sent their chief executives to meet with Trump in July.Companies such as Xilinx Inc. and Micron have publicly said they’ve applied for licenses and called on the U.S. to allow them to resume doing business with Huawei. They argue that many of their products are easily obtainable from their overseas rivals, making a ban ineffective and also harmful to the industry that the trade dispute with China is supposed to be helping.Some U.S.-based makers of electronic components have already reported earnings and given forecasts that show the negative effects of the trade dispute.(Updates with bond spread moves in fourth paragraph.)\--With assistance from Adam Haigh and Jeran Wittenstein.To contact the reporters on this story: Jenny Leonard in Washington at firstname.lastname@example.org;Ian King in San Francisco at email@example.com;Jennifer Jacobs in Washington at firstname.lastname@example.orgTo contact the editors responsible for this story: Margaret Collins at email@example.com, ;Michael Shepard at firstname.lastname@example.org, ;Tom Giles at email@example.com, Sarah McGregor, Scott LanmanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Western Digital Corp. (WDC) today announced that Martin Fink, executive vice president and chief technology officer, will be transitioning to retirement and moving to an advisory role with the Company. Mr. Fink will continue to report to Steve Milligan, chief executive officer, and advise Mr. Milligan and the executive team on matters relating to data center architectures, including RISC-V. Dr. Siva Sivaram, executive vice president, Silicon Technology and Manufacturing, has been appointed to the newly created role of President, Technology and Strategy, effective immediately.
Western Digital Corp. (WDC) today announced that the board of directors declared a quarterly cash dividend of $0.50 per share of common stock (the "cash dividend"). The cash dividend will be paid on October 22, 2019, to the company's stockholders of record as of October 4, 2019. The amount of future dividends under the company's dividend policy, and the declaration and payment thereof, will be based upon all relevant factors, including the company's financial position, results of operations, cash flows, capital requirements and restrictions under the company's financing documents, and shall be in compliance with applicable law.
With escalation in trade war between the world's largest economies, the semiconductor sector has been the worst hit given its significant exposure to China.
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Supporting the growing open composable disaggregated infrastructure (CDI) market, Western Digital extends its product leadership and commitment to an open, standards-based approach to help accelerate customer adoption. New Open Composable Compliance Lab, with support from leading industry players, delivers an expansive, multi-vendor ecosystem of compute, networking and storage to validate open, end-to-end interoperability, ensuring data center customers have choice. Company to showcase its OpenFlex NVMe-oF architecture, open API and open composable flash platform—the fastest available—as well as new technology innovations at the 2019 Flash Memory Summit.
The markets were resilient through the first few hours of trading on Thursday. Investors brushed off the volatility from the prior session and stocks were posting strong gains on the day. Then, President Trump opted to tweet about raising tariffs, sending algos and investors into a fit of selling. Let's look at a few top stock trades for the day. Top Stock Trades for Tomorrow 1: General MotorsShares of General Motors (NYSE:GM) hit new 52-week highs on Thursday, before giving up its gains on tariff concerns.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIf GM can maintain this steep, short-term uptrend support level (purple line), then bulls may see a test of long-time resistance near $43 in the not-too-distant future. * 7 A-Rated Stocks Under $10 If uptrend support gives way, see if the 10-week moving average currently at $38.82 holds up. Below that and the 38.2% retracement near $37.30 and the 50-week moving average at $36.11 are on the table. Top Stock Trades for Tomorrow 2: Advanced Micro DevicesIt was a great day for chip stocks, then it was a horrible day. A solid earnings report from the company below, plus commentary from its management that the memory market has hit a "trough" sparked a rally in the semiconductor space. Coupled with a robust bounce in tech stocks, Advanced Micro Devices (NASDAQ:AMD) was trading pretty well.You can see in Thursday's candle, AMD briefly reclaimed its 50-day moving average. That set the stage for a rally back to the 20-day moving average at $32.50 and gave the stock a chance to repair some of Wednesday's post-earnings technical damage that was exacerbated by the Fed.Now below Wednesday's low, the prior breakout level near $29 is on the table. If that fails to hold, the 38.2% retracement at $27.67 is on the table. Top Stock Trades for Tomorrow 3: Western DigitalWestern Digital (NASDAQ:WDC) was up more than 6% at one point on Thursday, even though the company missed on earnings and revenue expectations. However, positive commentary about the future inspired buyers to step up.They're paying the price now. Should the stock lose short-term channel support (purple line) and the 20-day moving average near $53, a larger pullback could ensue.Semis are getting whacked on this tariff news, so it's possible WDC and others come under further pressure. If Fibonacci support can't buoy Western Digital at $52.13 or $47.81, perhaps the 50-day moving and 200-day moving average can, with both currently near $45.50. Top Stock Trades for Tomorrow 4: QualcommAnother name hurting on Thursday is Qualcomm (NASDAQ:QCOM), which also reported earnings. So far though, the stock hasn't taken out its opening lows, which are up near $68.25. If it does, look for a washout down to $65.If there's a rebound in tech and specifically, the semi space, there will be better plays than QCOM. In fact, on a prolonged pullback, there will also likely be better candidates than QCOM.But at $64 to $65, Qualcomm presents a solid risk/reward, with the rising 50-day just below. Top Stock Trades for Tomorrow 5: AlibabaAlibaba (NYSE:BABA) was hammered on Thursday, falling more than 5%. The stock may attract some buyers, but I would be leery. At least until the dust settles.Let's see how this one ends the week. So far, it's holding its 50% retracement at $162.75. If it can reclaim its 50-day and 200-day moving averages, bulls are still okay, technically speaking. * The 10 Best Stocks to Invest in for August Below $162.75 and the 61.8% retracement near $155 is on the table. Below that and the $148 to $150 area is possible. Over the 50-day could send BABA stock back to the 20-day, currently at $172.61 and into the upper-$170s if it clears that.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities.The post 5 Top Stock Trades for Friday: GM, AMD, WDC, QCOM, BABA appeared first on InvestorPlace.
Western Digital Corp (NASDAQ: WDC ) reported in-line fourth-quarter earnings and revenues that came slightly shy of estimates. The forecasts for the first quarter also largely met estimates. The Analysts ...
Shares of Western Digital Corp. are up more than 8% in Thursday trading after the company's assertion that the memory market "has reached a cyclical trough" came as a relief to investors and analysts. "Although the report and the guide were not bulletproof, the worst is likely behind us," wrote Susquehanna's Mehdi Hosseini, who rates the stock at neutral and upped his price target to $55 from $35. "We anticipate quarterly earning to continue to recover through FY20 while FCF margin expands." Wells Fargo's Aaron Rakers said he thinks "investor sentiment will continue to positively shift to gauging upside drivers." Rakers rates the stock at outperform. The stock has climbed 58% so far this year, as the S&P 500 has added 20% and the PHLX Semiconductor Index has gained 37%.